Buy BHEL on dips but avoid at current levels, says Ambareesh Baliga, COO, Way2Wealth.
Baliga told CNBC-TV18, "In BHEL, we are seeing this 9% cut only because the stock had moved up decently well in the past couple of weeks. The way we see the results were- okay, it was in line with what we were expecting. Surely, there was a bit of a disappointment, no doubt, but I suppose it's not really as bad as what it's being made out to be. So, surely in this sort of a correction I will possibly wait for another 5-6% more correction or I may possibly buy at those lower levels."
He further added, " Jain Irrigation , we should see from where it is moved. We saw it moving from Rs 78 levels to Rs 406 levels. So, it is quite natural that it could correct and we should remember that there was a fire in the factory sometime back. So, I think those write offs will come this quarter."
